Can XRP Hold on to $0.50 Price? Critical Levels to Watch in XRP!

  • XRP price has started a new increase above the $0.480 resistance.
  • The price is currently trading above $0.50 and the 100 simple moving average (4-hours).
  • On the 4-hour chart of XRP/USD, there is a significant bullish trend line forming with support near $0.4910.

Ripple (XRP) price has managed to break above the $0.50 resistance. XRP price could continue to rise towards the $0.525 and $0.550 resistance levels.

XRP Price Increased by 11% in 5 Days!

In the past few days, Ripple’s XRP has experienced a significant increase from its $0.420 support against the US Dollar. It has entered the bullish zone, leaving Bitcoin and Ethereum behind.

It has clearly surpassed the $0.475 and $0.480 resistance levels. It even surpassed $0.500. A peak was formed around $0.5047 and the price is currently consolidating gains. XRP is trading above the 23.6% Fib retracement level of the upward move from the $0.4433 swing low to $0.506 high.

XRP price is also trading above $0.50 and the 100 simple moving average (4-hours). Additionally, there is a significant bullish trend line forming with support near $0.4910 on the 4-hour chart of XRP/USD.

xrp-usd-4-saatlik

XRP/USD 4 Hour Price Chart

The first resistance is near the $0.5050 area. The first major resistance level is located near $0.525. A successful break above the $0.525 resistance level could send the price towards the $0.550 resistance. Further gains could require a test of the $0.585 resistance.

Downside Scenario and Technical Indicators for XRP

If Ripple fails to surpass the $0.505 resistance area, it could start a downside correction. The first support on the downside is near the $0.491 area and the trend line.

The next major support is near the $0.474 area, which is the 50% Fib retracement level of the upward move from the $0.4433 low to $0.5047 high. If there is a downside break and a close below the $0.474 level, the price of XRP could extend its losses. In this case, the price could test the $0.450 support area.

Technical Indicators

  • 4-hour MACD – The MACD for XRP/USD is gaining pace in the bullish zone.
  • 4-hour RSI (Relative Strength Index) – The RSI for XRP/USD is currently in the overbought zone.
  • Major Support Levels – $0.491, $0.474, and $0.450.
  • Major Resistance Levels – $0.505, $0.525, and $0.550.
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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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